billionaire Byron Allen offers $14 billion for Paramount Global – Kommersant
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Allen Media Group, owned by producer and media mogul Byron Allen, has offered to buy media company Paramount Global for $14 billion, reports Bloomberg with reference to sources. Allen Media confirmed the negotiations, but declined to provide details.
According to Bloomberg, Allen Media is willing to pay $28.50 for each voting share of Paramount Global – a premium compared to the share price in yesterday’s trading is more than 50%. Thus, the company is valued at $14.3 billion, and taking into account debts of more than $15 billion, almost $30 billion.
Paramount Global was created in December 2019 through the merger of Viacom and CBS Corp. Paramount’s assets include the film company of the same name, several television channels under the CBS brand, cable channels MTV, Nickelodeon, etc. It was previously reported that negotiations to purchase the company are also being conducted by other players in this market, including Warner Bros. Discovery And Skydance Media.
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